Allentown medical office building sold for $1.3M

By collaborating with an online real estate marketplace, one local brokerage firm helped market a medical office building to a wider net of investors.

Feinberg Real Estate Advisors of South Whitehall Township and KW Commercial partnered with auction.com to sell a 22,000 square-foot medical office building in Allentown. The property at 501 N. 17th St. sold to Sunstar Medical Center LLC for $1.3 million.

Cindy McDonnell Feinberg, co-owner and co-founder of Feinberg Real Estate Advisors, and KW Commercial represented both the seller, Liberty Allen Square LLC, and the buyer in the transaction.

“It did really present us with a whole different set of investors that typically wouldn’t see that property,” McDonnell Feinberg said.

The investor behind the purchase of the property is from New Jersey, and this is his first Allentown property, she said.

Liberty Square Medical Center, a multitenant professional office building, is about 65 percent leased. It offers opportunities for practices associated with Lehigh Valley Health Network and St. Luke’s University Health Network.

Source: LVB